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How Banks Are Trying To Avoid Rate Rigging Fines

Reuters | Posted 09.29.2012 | Business

BRUSSELS, July 30 (Reuters) - Several banks under investigation for suspected euro rate-rigging have joined Deutsche Bank in giving information to E...

Bank CEO: We're Going To Have Libor 'Spotlight' On Us Too

Reuters | Posted 09.28.2012 | Business

LONDON, July 29 (Reuters) - British bank RBS is braced to be punished over its role in the interest-rate rigging scandal that has rocked the industr...

London Is Better Off Reformed (LIBOR)

Chris Brummer | Posted 07.27.2012 | Business
Chris Brummer

Poor London. They may have the Olympics, but the recent LIBOR scandal appears to be strike three in a ballgame full of regulatory gaffes that have left the city's reputation for governance tarnished in the eyes of the world's financial elite.

Libor Fraud Happening In 1991: Trader

Mark Gongloff | Posted 09.26.2012 | Business
Mark Gongloff

Tim Geithner claims he learned of Libor manipulation when the rest of us commoners did, in 2008. New evidence keeps coming out suggesting he should have known much, much earlier.

Ryan Grim

Elizabeth Warren On Libor: 'Go Get 'Em' | Ryan Grim | Posted 07.27.2012 | Politics

WASHINGTON -- Now that the details of the global Libor interest-rate scandal are beginning to emerge more fully, the question becomes what, if anythin...

Geithner: Regulators Dragged Feet On LIBOR Scandal Because 'These Things Take Time'

AP | MARCY GORDON | Posted 07.26.2012 | Business

WASHINGTON -- Treasury Secretary Timothy Geithner says regulators waited four years to penalize Barclays bank for trying to manipulate a key global be...

Avoiding the Next Financial Pile-Up: The Values of Loyalty, Honor, and Duty to Market

Rachel Harvey, PhD | Posted 09.25.2012 | Business
Rachel Harvey, PhD

Namely, duty to market is the foundation of a well-functioning market. Only when combined with supervision, regulation, and codes of conduct stressing trust and personal integrity, can systemic failure, fraudulent practices, and rate manipulation be curtailed.

Below the Fold: Rumor Has It We're Screwed

Richard Zombeck | Posted 09.25.2012 | Business
Richard Zombeck

We're screwed. That's as good a place to start this post as any. Congress and the Administration have been co-opted -- bought and paid for. Financial regulation is a joke and fraud is a business model and seen as standard operating procedure.

Good Banks Turn Bad: Barclays, Libor and Me

Arianna Huffington | Posted 09.25.2012 | Business
Arianna Huffington

With 16 banks, including Barclays, being investigated for Libor manipulation and fraud, outrage is entirely appropriate. But when I first read this story, I had a somewhat different reaction due to my own personal Barclays story.

Staffers At Scandal-Ridden Bank Boosting Romney Campaign

AP | ROBERT BARR | Posted 09.25.2012 | Business

LONDON (AP) — The former chief executive of Barclays dropped out of Mitt Romney's Thursday night fundraiser in London, but Bob Diamond had already s...

Departing Barclays Exec To Get Huge Goodbye Gift

Reuters | Posted 09.24.2012 | Business

July 25 (Reuters) - Jerry del Missier, who resigned as chief operating officer for Britain's Barclays bank earlier this month, will receive a cash p...

Tim Geithner Admits Banks Bailed Out With Rigged Libor, Costing Taxpayers Huge Amount

Mark Gongloff | Posted 09.24.2012 | Business
Mark Gongloff

The government knowingly used an artificially low interest rate when setting bailout terms for big banks and insurance giant AIG, costing taxpayers millions, maybe billions.

Rate-Rigging Could Become A Crime In The EU

AP | SLOBODAN LEKIC | Posted 09.24.2012 | Business

BRUSSELS (AP) — The European Union proposed Wednesday to make manipulating key global interest rates a criminal offence. European Com...

N.Y. Fed Silent On Barclays’ Admission Of Rigging Libor

Reuters | Sakthi Prasad | Posted 07.25.2012 | Business

Treasury Secretary Timothy Geithner, who was then head of the Federal Reserve Bank of New York, did not communicate in key meetings with top regulator...

Deutsche Bank's Internal Libor Investigation Finds Deutsche Bank Mostly Innocent

Mark Gongloff | Posted 09.23.2012 | Business
Mark Gongloff

Great news, you guys. We can go ahead and scratch at least one bank off the list of egregious interest-rate manipulators. That's because this bank has...

Protesters Would Like Ex-Barclays CEO Off Their College's Board Of Trustees, Please

The Huffington Post | Alexander Eichler | Posted 07.24.2012 | Business

Bob Diamond has given millions to Colby College in the past decade. Some people at the school have a problem with that. On Saturday, protesters at ...

Watchdog: It Would Have Been Too Expensive To Try And Spot Rate-Rigging

Reuters | Posted 09.23.2012 | Business

LONDON, July 24 (Reuters) - Trying to spot whether the Libor interest rate was being manipulated by tiny amounts would be "prohibitively expensive" ...

Prosecutors Reportedly Close To Making Libor Arrests

Reuters | Posted 07.22.2012 | Business

By Matthew Goldstein and Jennifer Ablan and Philipp Halstrick July 22 - U.S. prosecutors and European regulators are close to arresting individual ...

Regulators Wanted Anonymity In Libor Scandal

The New York Times | Ben Protess and Mark Scott | Posted 07.21.2012 | Business

As the interest rate manipulation scandal grips the banking industry, regulators have defended their actions and trumpeted their efforts to overhaul t...

UBS Doesn't Exactly Have A Great Track Record When It Comes To Scandals

The New York Times | JAMES B. STEWART | Posted 07.21.2012 | Business

As the Justice Department weighs the possibility of criminal charges in the unfolding Libor rate-setting scandal, it may want to consider the record ...

Joe Nocera: Another Week, Another Banking Scandal

The New York Times | JOE NOCERA | Posted 07.21.2012 | Business

Is it my imagination, or does every week bring news of another financial scandal? No, it’s not my imagination. First up: Peregrine Financial Grou...

Friday Talking Points -- Another Sad Day

Chris Weigant | Posted 09.19.2012 | Politics
Chris Weigant

We're not going to have our normal partisan talking points today. We're going to follow the lead set by Barack Obama and Mitt Romney, and we're just not going to go there today.

Former Major Regulator Blasts Tim Geithner On Libor

The Huffington Post | Bonnie Kavoussi | Posted 07.21.2012 | Business

When it comes to the Libor scandal, Sheila Bair says Timothy Geithner just didn't do a very good job watching over Wall Street. Geithner, now the U...

Elizabeth Warren: 'Libor Fraud Exposes Rot At The Core'

The Huffington Post | Alexander Eichler | Posted 07.20.2012 | Business

Elizabeth Warren jumped into a growing chorus decrying the massive Libor manipulation on Thursday with a scathing editorial in the Washington Post. ...

Treasury Report: Libor Rate Flawed, Poses Risk To Financial Markets

AP | MARCY GORDON | Posted 09.19.2012 | Business

WASHINGTON (AP) — The process for setting a key global interest rate is flawed and poses a risk to the stability of financial markets, according to ...